Gold prices went up for the first time in four trading days because U.S. long-term interest rates went down.
Before the FOMC meeting minutes are shared, interest rates in the U.S. fell, and that made more people buy gold.
However, gold also faced some pressure to go down because President Trump said he may start new tariffs, which could increase worries about inflation.
The deadline for tariff talks is August 1, so more market confusion may happen. Because of that, the price rise may only be short-term.
Still, some central banks are buying gold, so gold prices may stay strong in the medium to long term.
This could be a good chance to buy if the price drops a little.
Expected Gold/USD Price Range: 3,270 – 3,350
Note: This information does not guarantee profits. Please make your own decisions when trading.